REE Automotive (NASDAQ:REE) Posts Quarterly Earnings Results, Misses Expectations By $0.27 EPS

REE Automotive (NASDAQ:REE) released its earnings results on Tuesday. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.27), Zacks reports. REE Automotive had a negative return on equity of 119.91% and a negative net margin of 6,265.21%.

REE Automotive Price Performance

NASDAQ REE opened at $9.49 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.15 and a current ratio of 2.21. REE Automotive has a 52-week low of $2.91 and a 52-week high of $11.72. The business has a 50 day simple moving average of $7.85 and a 200 day simple moving average of $5.55. The stock has a market cap of $99.74 million, a price-to-earnings ratio of -1.06 and a beta of 3.03.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of REE Automotive in a report on Friday, September 27th.

About REE Automotive

REE Automotive Ltd. operates as an automotive technology company in France, the United Kingdom, the United States, and internationally. The company offers REEcorner, a compact module that integrates critical vehicle drive components comprising as steering, braking, suspension, powertrain, and control between the chassis and the wheel; and REEplatform that allows for the addition of a modular and customizable top hat/cabin design based on customer specifications, without requiring modification to the platform.